Phil's Financial Tip of the Day:
Wounded Military Service Charities
I'm sure you get inundated with mail everyday as I do for military organizations who are soliciting for contributions.
Thomas D. Segal analyzed the worthy wounded military organizations in an article on GOPUSA.com. In it he says:
One of the best known and highly promoted of these organizations is The Wounded Warrior Project, which has chapters across the United States. It has proven itself to be worthy of public support and has done some notably good work providing “health and comfort” backpacks to hospitalized military personnel and aid to both the service members and their families following hospitalization.
Available records show 83% of donated funds are funneled directly into aid for those who have been wounded or their families. This is far better than the national average for charities. Most of the top organizations report about 75% of their revenue supports the charitable mission.
Also Mr. Segal reveals the charities not worthy of your hard earned money.
To read the rest of the article:
http://www.gopusa.com/commentary/2012/02/29/segel-the-wounded-warrior-maze/
Quote of the Day from Dave Ramsey.com:
Fate knows where you are going, but it is up to you to drive there. — Michelle Keesling
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
Thursday, March 1, 2012
Wednesday, February 29, 2012
Financial Headline News for Wednesday 2/29
Phil's Financial Tip of the Day:
AAA provides these fuel-saving tips and advice to drivers:
Only 17 percent of cars have all four tires properly inflated, yet the U.S. Department of Energy reports that proper tire inflation can improve fuel economy by up to three percent. It's important not only to check tire pressures at least once a month, but also make sure it's done correctly; a survey found 85 percent of motorists don't know how to properly check tire pressures. Check the pressures when the tires are cold and have not been driven recently. Tires should be inflated to levels recommended by the vehicle manufacturer, not the pressure levels stamped on the tire sidewall. The proper pressure levels can be found on a sticker on the driver's side door jamb or in the owner's manual.
Be gentle on the gas and brake pedals
One of the easiest and most effective ways to conserve fuel is to change driving styles. Instead of making quick starts and sudden stops, go easy on the gas and brake pedals. If there is a red light ahead, ease off the gas and coast up to it rather than waiting until the last second to brake. Once the light turns green, gently accelerate rather than making a quick start. The U.S. Department of Energy reports aggressive driving can lower a car's fuel economy by up to 33 percent.
Let AAA find lowest gas prices
AAA's TripTik smartphone app provides motorists with the most current and accurate gas price data available, by drawing on credit card transactions at more than 100,000 stations nationwide. Drivers can find the lowest gas prices close to home or on the road. The AAA app's GPS technology enables users to quickly locate stations on a map and see the price for all available grades of gasoline. Visit AAA.com/Mobile.
Drive the speed limit
Slowing down to observe the speed limit is safer and can conserve fuel. The U.S. Department of Energy reports that each 5 mph driven over 60 mph is like paying an additional $0.24 per gallon for gas. Leave yourself plenty of time to reach your destination to avoid feeling rushed so you can arrive safely and with a little more fuel in the tank.
Plan errands in advance
When running errands, try to combine multiple tasks into one trip. Several short trips starting with a cold engine each time can use twice as much gas as a longer multipurpose trip covering the same distance when the engine is warm. Also, plan the route in advance to drive the fewest miles. Online mapping tools such as AAA's TripTik Travel Planner are available to help plan routes and are free to all motorists at AAA.com.
Lighten the load
A heavier vehicle uses more fuel. Lighten your vehicle by cleaning out the trunk, cargo areas and passenger compartments. Also try to avoid using a car's roof rack to transport luggage or other equipment-especially over long distances on the highway. A loaded roof rack affects the vehicle aerodynamics and creates extra drag that reduces fuel economy.
Keep up-to-date on vehicle maintenance
Keeping a car running properly helps achieve maximum fuel economy. Be sure to follow the vehicle manufacturer's recommended maintenance schedule, and do not ignore vehicle warning lights that indicate something is wrong. Warning lights can signal problems that will greatly decrease a car's fuel efficiency. To help motorists find reliable, high-quality vehicle service, AAA has inspected and approved nearly 8,000 auto repair shops across the country. To locate a nearby AAA Approved Auto Repair shop, visit AAA.com/repair.
Quote of the Day from Dave Ramsey.com:
Working hard for something we don't care about is called stress; working hard for something we love is called passion. — Simon Sinek
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
AAA provides these fuel-saving tips and advice to drivers:
Properly inflate tires
Only 17 percent of cars have all four tires properly inflated, yet the U.S. Department of Energy reports that proper tire inflation can improve fuel economy by up to three percent. It's important not only to check tire pressures at least once a month, but also make sure it's done correctly; a survey found 85 percent of motorists don't know how to properly check tire pressures. Check the pressures when the tires are cold and have not been driven recently. Tires should be inflated to levels recommended by the vehicle manufacturer, not the pressure levels stamped on the tire sidewall. The proper pressure levels can be found on a sticker on the driver's side door jamb or in the owner's manual.
Be gentle on the gas and brake pedals
One of the easiest and most effective ways to conserve fuel is to change driving styles. Instead of making quick starts and sudden stops, go easy on the gas and brake pedals. If there is a red light ahead, ease off the gas and coast up to it rather than waiting until the last second to brake. Once the light turns green, gently accelerate rather than making a quick start. The U.S. Department of Energy reports aggressive driving can lower a car's fuel economy by up to 33 percent.
Let AAA find lowest gas prices
AAA's TripTik smartphone app provides motorists with the most current and accurate gas price data available, by drawing on credit card transactions at more than 100,000 stations nationwide. Drivers can find the lowest gas prices close to home or on the road. The AAA app's GPS technology enables users to quickly locate stations on a map and see the price for all available grades of gasoline. Visit AAA.com/Mobile.
Drive the speed limit
Slowing down to observe the speed limit is safer and can conserve fuel. The U.S. Department of Energy reports that each 5 mph driven over 60 mph is like paying an additional $0.24 per gallon for gas. Leave yourself plenty of time to reach your destination to avoid feeling rushed so you can arrive safely and with a little more fuel in the tank.
Plan errands in advance
When running errands, try to combine multiple tasks into one trip. Several short trips starting with a cold engine each time can use twice as much gas as a longer multipurpose trip covering the same distance when the engine is warm. Also, plan the route in advance to drive the fewest miles. Online mapping tools such as AAA's TripTik Travel Planner are available to help plan routes and are free to all motorists at AAA.com.
Lighten the load
A heavier vehicle uses more fuel. Lighten your vehicle by cleaning out the trunk, cargo areas and passenger compartments. Also try to avoid using a car's roof rack to transport luggage or other equipment-especially over long distances on the highway. A loaded roof rack affects the vehicle aerodynamics and creates extra drag that reduces fuel economy.
Keep up-to-date on vehicle maintenance
Keeping a car running properly helps achieve maximum fuel economy. Be sure to follow the vehicle manufacturer's recommended maintenance schedule, and do not ignore vehicle warning lights that indicate something is wrong. Warning lights can signal problems that will greatly decrease a car's fuel efficiency. To help motorists find reliable, high-quality vehicle service, AAA has inspected and approved nearly 8,000 auto repair shops across the country. To locate a nearby AAA Approved Auto Repair shop, visit AAA.com/repair.
Quote of the Day from Dave Ramsey.com:
Working hard for something we don't care about is called stress; working hard for something we love is called passion. — Simon Sinek
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
Tuesday, February 28, 2012
Financial Headline News for Tuesday 2/28
Phil's Financial Tip of the Day:
Take the Stairs-Rory Vaden
Rory Vaden appeared on Fox and Friends yesterday talking about his new book 'Take the Stairs':
http://www.foxnews.com/on-air/fox-friends/index.html#/v/1475647548001/are-americans-always-looking-for-the-easy-way-out/?playlist_id=86912
In it he teaches businesses including Southwestern these 7 principles:
1) Sacrifice
2) Commitment
3) Focus
4) Integrity
5) Schedule
6) Faith
7) Action
For more info check out his website:
http://roryvaden.com/
Quote of the Day from Dave Ramsey.com:
Justice consists not in being neutral between right and wrong, but in finding out the right and upholding it, wherever found, against the wrong. — Theodore Roosevelt
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
Take the Stairs-Rory Vaden
Rory Vaden appeared on Fox and Friends yesterday talking about his new book 'Take the Stairs':
http://www.foxnews.com/on-air/fox-friends/index.html#/v/1475647548001/are-americans-always-looking-for-the-easy-way-out/?playlist_id=86912
In it he teaches businesses including Southwestern these 7 principles:
1) Sacrifice
2) Commitment
3) Focus
4) Integrity
5) Schedule
6) Faith
7) Action
For more info check out his website:
http://roryvaden.com/
Quote of the Day from Dave Ramsey.com:
Justice consists not in being neutral between right and wrong, but in finding out the right and upholding it, wherever found, against the wrong. — Theodore Roosevelt
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
Monday, February 27, 2012
Financial Headline News for Monday 2/27
Phil's Financial Tip of the Day:
Dave Ramsey show comes to NY area live
Today the Dave Ramsey show comes live to the NY area on WOR 710 from 2 PM-4PM Monday thru Friday. Dave will be video casting his show from the WOR studio today.
To watch:
http://www.daveramsey.com/home/
This is a good time to review the Dave Ramsey 7 baby steps to Financial Peace:
1) Start an emergency baby fund of $1,000.
2) Debt Snowball- Pay off all debts except the house from smallest balance to highest.
3) When out of debt except for the house, add to your $1,0000 emergency fund by building up 3 to 6 months of expenses in savings.
4) Invest 15% of household income into Roth IRAs and pre-tax retirement-When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth.
5) College funding for children-By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now.
6) Pay off your house early-Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments.
7) Build wealth and give! It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live!
Good Luck Dave! Welcome to the Big Apple and Tri State Audience!
Quote of the Day from Dave Ramsey.com:
Happiness depends more on the inward disposition of mind than on outward circumstances. — Benjamin Franklin
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Dave Ramsey show comes to NY area live
Today the Dave Ramsey show comes live to the NY area on WOR 710 from 2 PM-4PM Monday thru Friday. Dave will be video casting his show from the WOR studio today.
To watch:
http://www.daveramsey.com/home/
This is a good time to review the Dave Ramsey 7 baby steps to Financial Peace:
1) Start an emergency baby fund of $1,000.
2) Debt Snowball- Pay off all debts except the house from smallest balance to highest.
3) When out of debt except for the house, add to your $1,0000 emergency fund by building up 3 to 6 months of expenses in savings.
4) Invest 15% of household income into Roth IRAs and pre-tax retirement-When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth.
5) College funding for children-By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now.
6) Pay off your house early-Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments.
7) Build wealth and give! It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live!
Good Luck Dave! Welcome to the Big Apple and Tri State Audience!
Quote of the Day from Dave Ramsey.com:
Happiness depends more on the inward disposition of mind than on outward circumstances. — Benjamin Franklin
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Friday, February 24, 2012
Financial Headline News for Friday 2/24
Phil's Financial Tip of the Day:
Time is Money
The only thing you and I and everyone all have in common is that we all get 24 hours a day and 168 hours a week to accomplish our dreams, goals, tasks at work, etc.
An average person will allocate that 168 hours by:
Sleeping=56
Working=45
Commuting=10
Hygiene and Eating=15
This leaves us with only 42 hours a week to spend with family, pursue hobbies, run errands, etc.
Laura Vanderkam wrote an excellent article on Time Management in The Wall Street Journal on Wednesday February 22nd. In it she recommends to write down a full accounting of how we use our precious time.
Here's how to do it:
Keep a time log. If you've ever tried to lose weight, you may have tried keeping a food journal. Sure, you're eating grilled chicken for dinner, but the eight M&Ms you grab from the receptionist's candy jar add up, too.
Like tracking meals, tracking time keeps us from spending it mindlessly or lying to ourselves about what we do with it. Write down what you're doing as often as you remember for at least a week. Add up the totals. Checking Facebook five times a day at six minutes a pop adds up to two-and-a-half hours in a workweek -- curiously, the exact amount of time the Centers for Disease Control and Prevention recommends we exercise
To read the rest of the article:
http://online.wsj.com/article/SB10001424052970203358704577237603853394654.html?mod=wsj_share_tweet
Here are some Common Sense Time Management Tips:
Quote of the Day from Dave Ramsey.com:
Within each of us is a hidden store of determination. Determination to keep us in the race when all seems lost. — Roger Dawson
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Time is Money
The only thing you and I and everyone all have in common is that we all get 24 hours a day and 168 hours a week to accomplish our dreams, goals, tasks at work, etc.
An average person will allocate that 168 hours by:
Sleeping=56
Working=45
Commuting=10
Hygiene and Eating=15
This leaves us with only 42 hours a week to spend with family, pursue hobbies, run errands, etc.
Laura Vanderkam wrote an excellent article on Time Management in The Wall Street Journal on Wednesday February 22nd. In it she recommends to write down a full accounting of how we use our precious time.
Here's how to do it:
Keep a time log. If you've ever tried to lose weight, you may have tried keeping a food journal. Sure, you're eating grilled chicken for dinner, but the eight M&Ms you grab from the receptionist's candy jar add up, too.
Like tracking meals, tracking time keeps us from spending it mindlessly or lying to ourselves about what we do with it. Write down what you're doing as often as you remember for at least a week. Add up the totals. Checking Facebook five times a day at six minutes a pop adds up to two-and-a-half hours in a workweek -- curiously, the exact amount of time the Centers for Disease Control and Prevention recommends we exercise
To read the rest of the article:
http://online.wsj.com/article/SB10001424052970203358704577237603853394654.html?mod=wsj_share_tweet
Here are some Common Sense Time Management Tips:
} Do two things from your daily to do list at the same time.(Ex. Run the Treadmill while watching your favorite TV program).
} Leave your keys in the same place every time. (Ex. Keys jar by the door).
} Determine your peak performance time each day and block out that time to do creative things that require maximum mind power. (Ex. Write, read, and study during your most alert time of the day).
} Use your non-peak performance time to do routine matters. (Ex. Making copies, filing, organizing your desk, cleaning up junk mail).
} Use commuting time to learn. (Ex. Audiobooks).
} Fill up gas tank each time-despite the high cost right now. (Ex. Filling up once a week will save you at least one additional trip per week to the gas station. At an average of 10 minutes per gas trip multiplied by 52 weeks comes out to 520 minutes which is 8.67 hours a year saved at the pump).
Quote of the Day from Dave Ramsey.com:
Within each of us is a hidden store of determination. Determination to keep us in the race when all seems lost. — Roger Dawson
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Thursday, February 23, 2012
Financial Headline News for Thursday 2/23
Phil's Financial Tip of the Day:
Back to the Future-TV antennas are making a comeback
Largely relegated to obscurity decades ago, old-fashioned television broadcasts—over the airwaves and not via cable or satellite—are enjoying an unexpected revival in the digital era.
With the price of gas and food going up every day, more and more people are cutting their cable bill by calling their providers and simply dropping the service to balance the family budget.
As reported in the Wall Street Journal on February 21st, an entrepreneur is providing a product that is like going back to the future with old fashioned antennas to solve this problem:
There are signs that consumers are responding. TV-antenna seller Richard Schneider of St. Louis says sales at his company are soaring. Mr. Schneider's Antennas Direct sold 70,000 antennas in January, and he expects to double last year's sales of about 600,000. That was up from 400,000 antennas in 2010.
Wal-Mart Stores Inc. recently agreed to sell Mr. Schneider's antennas, the retailer confirmed Friday, joining Best Buy Co., Costco Wholesale Corp. and others.
Mr. Schneider's antennas cost from $50 to $150, and he says the typical customer saves $96 a month by "cutting the cord" on cable or satellite TV, according a survey his company conducted.
The average monthly bills for basic cable service and broadband service add up $91.44, before add-ons like high definition and premium channels, according to SNL Kagan. By sacrificing basic-cable channels, and signing up for Netflix Inc., a household could pay less than $48 per month.
To read the rest of the article:
http://online.wsj.com/article/SB10001424052970204059804577229451364593094.html?mod=e2fb
Total Savings: Approximately $100 per month
Quote of the Day from Dave Ramsey.com:
Quality is never an accident ... it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives. — Will Foster
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Back to the Future-TV antennas are making a comeback
Largely relegated to obscurity decades ago, old-fashioned television broadcasts—over the airwaves and not via cable or satellite—are enjoying an unexpected revival in the digital era.
With the price of gas and food going up every day, more and more people are cutting their cable bill by calling their providers and simply dropping the service to balance the family budget.
As reported in the Wall Street Journal on February 21st, an entrepreneur is providing a product that is like going back to the future with old fashioned antennas to solve this problem:
There are signs that consumers are responding. TV-antenna seller Richard Schneider of St. Louis says sales at his company are soaring. Mr. Schneider's Antennas Direct sold 70,000 antennas in January, and he expects to double last year's sales of about 600,000. That was up from 400,000 antennas in 2010.
Wal-Mart Stores Inc. recently agreed to sell Mr. Schneider's antennas, the retailer confirmed Friday, joining Best Buy Co., Costco Wholesale Corp. and others.
Mr. Schneider's antennas cost from $50 to $150, and he says the typical customer saves $96 a month by "cutting the cord" on cable or satellite TV, according a survey his company conducted.
The average monthly bills for basic cable service and broadband service add up $91.44, before add-ons like high definition and premium channels, according to SNL Kagan. By sacrificing basic-cable channels, and signing up for Netflix Inc., a household could pay less than $48 per month.
To read the rest of the article:
http://online.wsj.com/article/SB10001424052970204059804577229451364593094.html?mod=e2fb
Total Savings: Approximately $100 per month
Quote of the Day from Dave Ramsey.com:
Quality is never an accident ... it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives. — Will Foster
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Wednesday, February 22, 2012
Financial Headline News for Wednesday 2/22
Phil's Financial Tip of the Day:
Give for Lent
With today being Ash Wednesday for Christians throughout the world, we are taught to give up something for Lent.
A good discipline would be to use the money of what you give up (Ex. daily Latte at Starbucks) and put it aside each day in a jar for your favorite charity. This will add up to a nice sum to be used for a great cause. This is what the season of Lent was intended to be for.
For Lent not only will you be doing something extremely generous, you will have broken the habit of what you are giving up.
After Lent you can now use that money you are saving daily from stopping your bad spending habit to set aside into savings.
You will certainly find that the little things sacrificed do add up to big rewards at the end of the year.
Quote of the Day from Dave Ramsey.com:
Do not anticipate trouble, or worry about what may never happen. Keep in the sunlight. — Benjamin Franklin
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
Give for Lent
With today being Ash Wednesday for Christians throughout the world, we are taught to give up something for Lent.
A good discipline would be to use the money of what you give up (Ex. daily Latte at Starbucks) and put it aside each day in a jar for your favorite charity. This will add up to a nice sum to be used for a great cause. This is what the season of Lent was intended to be for.
For Lent not only will you be doing something extremely generous, you will have broken the habit of what you are giving up.
After Lent you can now use that money you are saving daily from stopping your bad spending habit to set aside into savings.
You will certainly find that the little things sacrificed do add up to big rewards at the end of the year.
Quote of the Day from Dave Ramsey.com:
Do not anticipate trouble, or worry about what may never happen. Keep in the sunlight. — Benjamin Franklin
Starting Monday February 27th, please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
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